Adani Group firms - Vishvapradhan Commercial (VCPL), with AMG Media Networks and Adani Enterprises -- launched the open offer to acquire an additional 26% stake in NDTV, which started on
November 22 at a floor price of Rs 294/share. Markets regulator Sebi on November 7 had granted approval to the proposed Rs 492.81 crore-open offer.
As per NSE data, Adani's open offer received a subscription of 53,27,522 NDTV shares, around 32% of the total offered size of over 1.67 crore equity shares.
The resignation came after the media company said an entity backed by the founders had issued shares to a unit of the Adani Group, taking the billionaire Gautam Adani-led conglomerate a step closer to taking over the firm.
NDTV's latest shareholding pattern at the end of the September quarter shows that promoters Prannoy Roy and Radhika Roy own 15.94% and 16.32% of the company. RRPR owns a 29.18% stake in NDTV.
In the last three days, the stock has cracked nearly 12%, while it has risen 350% since the last year and 240% so far in the calendar year.
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